Global Healthcare IT Outsourcing Market Analysis

This report provides an analysis of the global healthcare IT outsourcing market for the period 2013 – 2023, wherein the period from 2015 to 2023 comprises the forecast period and 2014 is the base year. Data for 2013 is provided as historical information. The report covers all the major trends and technologies playing a major role in the growth of the healthcare IT outsourcing market over the forecast period. It also highlights various drivers, restraints, and opportunities expected to influence the market growth during the said period. The study provides a holistic perspective of the growth of the healthcare IT outsourcing market throughout the forecast period in terms of revenue estimates (in US$ Bn), across different geographies, which include Asia Pacific (APAC), Latin America (LATAM), North America, Europe, and Middle East & Africa (MEA). The report provides a cross-sectional analysis of the global healthcare IT outsourcing market in terms of market estimates and forecasts for all the segments across different geographic regions.
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As a result of the increasing IT outsourcing in healthcare industry, the quality of individual care has increased with greater access to latest means of healthcare IT administration technologies. With the ever-growing patient base across the globe and also due to limited human resources for personalized patient care and rising operational costs, IT outsourcing plays an important role in improving the productivity and quality offered by healthcare providers/payers. With the implementation of customized and advanced outsourced IT platforms, healthcare organizations can focus on their core responsibilities without dedicating their resources to manage IT infrastructure. IT outsourcing also encourages a data driven approach with advanced patient data management and analytics. Large amount of data generated in the healthcare industry is well managed by outsourced IT service providers. The growing demand for affordable care and rising government compliance are supporting factors for the growth of the healthcare IT outsourcing market, globally. As a result of enhanced competition among technology vendors, the standards for healthcare administration are increasing. With growing technology partnerships, the healthcare industry as a whole offers ample opportunities for implementation of high-end IT infrastructure, advanced care, and cost effective administration, which would collectively result in a better healthcare ecosystem worldwide.

On the basis of applications, the healthcare IT outsourcing market is categorized into care management, administration, and IT infrastructure management. Healthcare IT outsourcing market by end-use is categorized into healthcare providers and healthcare payers. The report also includes competitive profiling of major players associated with the healthcare IT outsourcing market. Important business strategies adopted by them, their market positioning, and recent developments have also been identified in the research report. The companies profiled in the report include Accenture Plc., IBM Corporation, Cognizant Technology Solutions, L&T Infotech, Tata Consultancy Services, Infosys Limited., Allscripts Healthcare Solutions, Inc., McKesson Corporation, HCL Technologies Ltd., and Wipro Limited. Healthcare IT outsourcing vendors are focusing on increasing their market presence through strategic partnerships and development of low-cost advanced solutions. Analytics and cloud are key focus areas of outsourcing service vendors currently.

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Source: satprnews.com – Global Healthcare IT Outsourcing Market Analysis

Survey: IT outsourcing on the rise among health insurers

But data security concerns remain in wake of cyberattacks.

The healthcare payer IT outsourcing market is expected to grow more than 40 percent in the next two years, according to a new Black Book survey. That’s because better software solutions have accelerated expenses faster than originally anticipated, and there has not been any corresponding increase in revenue for many health plans.

Still, less than 10 percent of health executives surveyed have considered solutions that lie outside of the U.S., because of “concerns over hostile offshore locations and escalating health data security and privacy issues.” As recently as January, 75 percent of reporting health plans were cautious of major outsourcing initiatives, since data breaches such as the massive cyberattack that hit Anthemincreased their fears of unsafe operations, according to the survey announcement. Continue reading

Recent research into the healthcare IT outsourcing market that will be worth $50.4 billion by 2018

The market for this report has been segmented by application and by industry. The application market is further classified as provider IT outsourcing, payer healthcare IT outsourcing, life science healthcare IT outsourcing, operational healthcare IT outsourcing, and infrastructure healthcare IT outsourcing.

Browse 147 market data tables and 11 figures spread through 365 pages and in-depth TOC on “Healthcare IT Outsourcing Market – By Application [Provider (EHR, RCM, LIMS) Payer (CRM, Claims Management, Fraud Detection, Billing) Life Science (ERP, CTMS, CDMS) Operational (SCM, BPM) & Infrastructure (IMS, Cloud Computing)] & Industry – Global Forecast To 2018 ”.
http://www.marketsandmarkets.com/Market-Reports/healthcare-it-outsourcing-market-1219.html

This report studies the global healthcare information technology outsourcing market (2013 to 2018).

Over the years, outsourcing has surfaced as a successful business model that mitigates the burden of administration, procurement, accounting, logistics and other tasks, and develops cost-effective business processes. The healthcare industry, which faces the challenge of delivering the best patient care at an affordable cost, has been opting for outsourcing IT solutions.

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The healthcare industry, on the whole, generates huge amounts of data. Healthcare providers/payers need to electronically track data related to medical records, billing codes, electronic monitoring systems, and patient care.

In order to track and manage this valuable data via electronic systems, there is a need for strong information technology infrastructure and devices such as servers, desktops, networks, personal digital assistants (PDAs), and laptops. Due to the lack of required skills and IT domain expertise, maintaining IT infrastructure and services is a challenging task for the healthcare industry.

This has resulted in an unprecedented demand for IT infrastructure outsourcing and IT services, which enable healthcare providers to focus on their core service areas, thereby curtailing costs and enhancing quality care.

In this report, the HCIT outsourcing market is segmented on the basis of its application into provider outsourcing, payer outsourcing, life sciences outsourcing, operational services outsourcing, and infrastructure outsourcing. The market has also been segmented by industry such as the healthcare system (including hospitals, clinics, and diagnostic laboratories, among others), the healthcare insurance industry, pharmaceutical industry, clinical research organizations, and biotechnology companies.

Source: whatech.com-Recent research into the healthcare IT outsourcing market that will be worth $50.4 billion by 2018 

Atos claims first in hospital global IT outsourcing

Dutch hospital Zaans Medical Center has outsourced its IT to French ICT services provider Atos, making it the first such facility in the Netherlands to completely outsource its IT infrastructure. Atos is responsible for managing workstations, servers, network, storage, back-up facilities, service desk and service-integration of the hospital located in Zaandam. ZMC is outsourcing many functions ahead of a move into a new hospital from the end of 2016. Atos, which expects more Dutch hospitals to take the same route, has developed a proof of concept in cooperation with Dell to demonstrate its offer.

Source: telecompaper-Atos claims first in hospital global IT outsourcing

Global Healthcare IT Outsourcing Market: Industry Analysis and Opportunity Assessment 2015 – 2025 by Future Market Insights

Healthcare Information Technology encompasses all technologies and software based solutions that are utilized in modern healthcare environment. There are infinite capabilities and opportunities in the field of Healthcare IT over the world. With the fastest transformations taking place in developed countries such as United States and the Big 5 in Europe. Outsourcing of IT to countries where cheaper solutions may be obtained has been greatly exploited by companies in developed countries. Countries such as India, China, Indonesia and Singapore have been IT outsourcing hubs for other nations since the capital required to be spent in developing IT solutions in these regions is only a fraction of what may be demanded in developed countries. Skilled intelligent resources are available at very low labor costs due to a significant currency exchange hence; outsourcing has become one of the largest opportunities that has increased the economy of several nations in past few years. Major areas where healthcare IT may be employed includes biomedical research and development such as pharmaceutical research, genetics and proteomics, life science IT, biotechnology, biosimulation and disease research among others. In a rising trend, numerous applications of IT can be found in hospitals and healthcare facilities management, forensics and insurance as well.

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The market for Healthcare IT outsourcing can be segmented by applications and End Users such as for Hospitals, the popular solutions encompass Hospital Information Systems, Electronic Health Records, Pharmacy Information, Laboratory Information Systems, Hospital Inventory Management, E-Prescription, Expensive Equipment Monitoring, Revenue Cycle Management, Clinical Decision Support and others recent applications such as picture archiving and communication systems or PACS. For Pharmaceutical and Life Science Research, the popular IT solutions include, eClinical Solutions, Clinical Database Management, drug modeling, biosimulation, patent study and enquiry, drug database integration, lab integration, laboratory equipment solutions. In other healthcare areas such as Insurance, major applications include provider facing, complex interaction and clearing houses, real-time eligibility verification, and eClaims. Several other areas include medical device software,smart cards, asset tracking and patient tracking, telemetric systems and remote patient monitoring.

Due to the diverse number of applications, the market for Healthcare IT outsourcing is highly fragmented, with a large number of core competencies in each organization. This trend is also similar and in tandem with the overall IT market. Realizing an IT solution for a complex healthcare problem requires in-depth understanding of the complete system since it requires healthcare experts to work in tandem with the developers. The Healthcare IT market is led by North America with the largest share particularly due to a high number of healthcare companies in the region, highly innovative and unique requirements.Major factors driving the growth of outsourcing healthcare IT solutions is presence of skilled labor, management of big data, affordability in the region, necessity of reducing increasing costs in research and development, meeting demands of an ever increasing population, increasing automation in healthcare, need of complex analytical tools in healthcare environment and burgeoning fields in healthcare such as medical devices.

Notable companies in the sector operating over the world include HCL Technologies, Cognizant Technology Solutions, Wipro Ltd, Hewlett-Packard, McKesson Corporation, Accenture Plc, Infosys Ltd, Tata Consultancy Services Ltd, Dell Inc., TriZetto, GeBBS Healthcare Solutions, GE Healthcare, Siemens Healthcare, RelayHealth, AllScripts, SureScripts, Zensar Healthcare IT, Carestream Solutions, Google Inc, Syntel, SAP and several others contribute to a significant share of the global market.

The report covers exhaustive analysis on:

  • Market Segments
  • Market Dynamics
  • Historical Actual Market Size, 2012 – 2014
  • Market Size & Forecast 2015 to 2025
  • Supply & Demand Value Chain
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Technology
  • Value Chain
  • Market Drivers and Restraints

Source: medgadget.com-Global Healthcare IT Outsourcing Market: Industry Analysis and Opportunity Assessment 2015 – 2025 by Future Market Insights

IT Outsourcing Allows Health System To Concentrate On Patients

Anthelio Healthcare has been chosen for the third time to provide IT products and services for Saint Mary’s Health System in Connecticut.

Saint Mary’s Health System in Waterbury, CT has renewed its contract with Anthelio Healthcare Solutions for information technology (IT) products and services. Saint Mary’s Health System has been utilizing Anthelio for technological support for two years.

Anthelio Healthcare Solutions provides the health system with a number of services and products, including remote managed hosting, connectivity and integration services, help desk support, and IT professional services. The company will provide Saint Mary’s with their Patient Information Exchange (PIE) clinical portal, a single-source solution for storing, accessing, and aggregating patient data. The PIE will help Saint Mary’s meet the growing need to efficiently share information across their network of health systems and with community healthcare providers.

Anthelio’s IT services include data protection, business intelligence reporting, and an information exchange platform. The PIE protects health information while bringing together data from different providers and allows for archiving.

Source: IT Health Outcomes-IT Outsourcing Allows Health System To Concentrate On Patients By Julia Ernst

Health IT outsourcing poised for growth in 2015, beyond

The market for IT outsourcing in healthcare and life sciences is expected increase at an 8.6 percent compound annual growth rate through 2019, with the adoption of cloud-based services among the major trends, according to global research firm TechNavio.
Organizations might be outsourcing just a few applications or their whole IT operations, relying on managed services to eliminate the need for an in-house IT staff. IT outsourcing helps healthcare providers to deploy business applications rapidly and focus on their core business.
Hospitals and clinics, which have difficulty keeping with up myriad changing government regulations, tend to outsource applications related to operations, finance, database management and infrastructure, according to the report. This outsourcing helps to reduce operational and maintenance costs

Read more at: Health IT outsourcing poised for growth in 2015, beyond